Market
Research Report, By Types Of Therapy (Pharmacological Therapy And
Non-Pharmacological Therapy), By Drug Formulation (Capsules, Tablet And
Others), By Type Of Diseases Condition (Poor Quality Of Sleep, Sleep
Maintenance And Other) - Forecast Till 2023
Overview:
The
global Insomnia Treatment Market Share is all set to gain substantially from a
moderate CAGR of 4.5% during the forecast period (2017-2023), claims Market
Research Future (MRFR) in an extensively researched study. Insomnia, across the
world, is on the rise aggravated much by anxiety and stress which are
by-products of the changing lifestyle. In a roundabout
a way this also triggers the global Insomnia Treatment Market Share.
Drivers and Restraints:
Rapid
industrialization and urbanization affected the populace adversely so much so
that physiologically people are becoming incapable of continually updating themselves as per the latest lifestyle
changes. Along with it, a sedentary lifestyle has chipped in with physical ailments. Together they have a knock-on
effect on the human biological clock disturbing sleep the most and in the
process causing insomnia. Rising geriatric population is also a major driving
factor for the market.
Advanced
technologies are also giving the market a much-needed thrust. It offers
significant help in reducing the stress level and canceling out other factors
that act as hindrances for sound sleep. Various pharmaceuticals are also
developing drugs that can reduce the stress level.
However,
people are not aware of the ill-effects, and
also, their lack of education can hinder the market growth.
Industry Trends:
The
market is experiencing various research outcomes that hold the promise of negating insomnia, at least
partially. For instance, Fisher Wallace Laboratories introduced Kortex that
combines virtual reality with clinically validated neurostimulation and aid the
brain in producing serotonin, a component that helps patient sleep. 2breathe
Technologies launched a smart app 2breathe that can help insomniacs in sleeping with a guided breathing technique.
Segmentation:
The
global Insomnia Treatment Market Share can be
segmented by types of therapy, drug formulation, and disease condition.
Based
on types of therapy, the market can be further
segmented into pharmacological therapy
and non-pharmacological therapy. Pharmacological therapy includes benzodiazepines, non-benzodiazepines, melatonin
receptor agonists and other. Non-pharmacological includes relaxation therapy, cognitive behavioral therapy, sleep
hygiene education, stimulus control, paradoxical intention and
other. Pharmacological therapy may
witness an increase in demand as the
bioavailability of drugs are fetching positive results. However, prolonged
usage of such medicines can cause dependency or addiction. On the other hand,
cognitive behavioral therapy (CBT-1) can prove beneficial for the industry in the foreseeable future.
On the basis of
drug formulation, the market covers capsules, tablets, and others. With
pharmaceutical therapy gaining the majority this market is all set to rise
higher.
As
per the condition of the disease, the market can be segmented into poor quality of sleep, sleep maintenance and
other.
Regional Analysis:
Region-wise
analysis covers North America, Europe, Asia Pacific (APAC) and the Middle East and Africa (MEA).
North
America is currently leading the market. The
rise in geriatric population and growing level of stress among the
residents are the chief driving factors.Technological advancements and
availability of the latest treatments are also giving the region much momentum.
People here are more aware of the psychological disorders and deficiencies due
to which the market is experiencing significant
growth. Favorable reimbursement policies are also helping the sector work
better in the region. Europe has the second largest market. Progress in
research and development in this sector has given the regional market enough
thrust to expand appropriately.
The
APAC and the MEA generate the least share of the global market. Lack of awareness
and proper healthcare structure are acting as market deterrents in the region.
However, working in shifts is proving daunting for the region and is giving rise to cases of insomnia. Japan has a high prevalence of the disease. But the APAC is
witnessing better reimbursement policies which can boost the market in
future.
Market Dashboard:
The
global market is highly evolving as it has a lot
of scopes to develop. Each day is
witnessing a discovery or innovation in
this field which is influencing the key players to invest heavily in research and developments. For instance, Ebb
Therapeutics started Ebb Insomnia Therapy which by cooling the forehead help
the insomniac in sleeping. Nightingale Smart Solutions introduced Nightingale
which creates ambient sound and drown the
disruptive noises to aid patients more.
Eisai,
Co., a Japanese company, has received the manufacturing rights to make active
pharmaceutical ingredient (API) and as well the intellectual property rights
(IPR) from Chugai and Roche to treat insomnia.
Key
players contributing the most in the market are Pfizer, Inc. (US), Eisai, Co. (Japan), Merck & Co Inc
(US), Sanofi (France), Flynn Pharma (UK), Takeda Pharmaceutical Company
(Japan), Biocodex S A (France), Meda Consumer Healthcare Inc (US), Pernix
Therapeutics (US), Purdue Pharma L.P. (US), Dainippon Sumitomo (Japan),
Consumer Healthcare Inc. (Canada), ECR Pharmaceuticals (US), Johnson &
Johnson (US), Astellas (UK), Neurim (Switzerland), SkyePharma (UK), and
Vanda Pharmaceuticals Inc. (US).
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